Gold vs. bitcoin: which is better for storage?
Meanwhile, #bitcoin supply is dwindling and gold risks becoming oversupplied in the coming years; after the April 20 "halving" event, #BTC shortages will become even more pronounced in the coming years.
Since its launch, the bitcoin network has cut its daily #issuance to miners in half. In its fifth phase, the network issues 3.125 BTC to successful miners or #mining pools every 10 minutes. This figure is 50% lower than in the fourth period, when the reward was 6.25 BTC per block.
Gold and bitcoin are generally considered safe assets. However, over the last century, gold has become the preferred store of value for banks and countries due to its scarcity. Almost every central bank in the world keeps gold as a reserve.
However, Mr. Wu believes that gold holders will face a difficult situation in the coming years as new supplies flood the market due to technological advances that have increased the pace of production.
Mr. Wu is a supporter of bitcoin. Bitcoin is a digital asset that is considered digital gold due to its predetermined and transparent issuance schedule. According to Mr. Wu, traditional gold investors are unaware that the yellow metal is a "slow-moving carpet" that will rise over the next decade.
Is BTC ready for a sharp rise?
In another post on the site, X Wu argues that the bitcoin price ratio suggests that the coin is poised for a mega-reversal: despite bitcoin soaring to $73,800 in March 2024, the rally hasn't even started yet, the analyst continues.
The jump in the value of the coin beyond the previous all-time high of $70,000 was an aberration from past performance.
However, history shows that even if prices continue to rise further in the current period, new all-time highs will be reached according to Wu's predictions.
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